Real Insights: Real Estate Overview
Yamuna Expressway April-2015
Executive Summary Yamuna Expressway has grown significantly over the last three to four years. With an aim to reduce the travel time between Delhi and Agra, India’s longest motorway, was opened in the year 2012. Covering about 2,40,000 hectares, it include six cities, namely Gautam Buddh Nagar, Bulandshahr, Aligarh, Maha Maya Nagar, Mathura and Agra. While the expressways is up and running, the authority has envisaged an elaborate plan for its further development. To smoothen the work process, Yamuna Expressway Master Plan 2031 has been divided into three phases, out of which only the first phase (40 km stretch from Greater Noida to Jewar) has been approved. As per the Master Plan, out of the total area sanctioned in Phase 1, about 22 per cent is earmarked for green cover, 20 per cent for industrial development, 19 per cent for residential development, 15 per cent for the transport links and remaining 24 per cent for commercial and institutional development. To further enhance the infra quotient of the stretch, several projects are in the pipeline. These include metro expansion, IT hub, manufacturing units, international airport, to name a few. Understanding the growth prospects, several leading developers are already cashing on the opportunities sprouting along the expressway. While the development, at present, may seem little slow; with new proposed infrastructure development including the metro is expected to give new impetus to the residential real estate demand. For the following report, we have analysed the data using GIS-based tools. Using CommonFloor’s exhaustive database, we have analysed both supply and demand side of the market.
Index Index ............................................................................................................................................................................................................... i List of Maps ................................................................................................................................................................................................. ii List of Figures ............................................................................................................................................................................................ ii List of Tables .............................................................................................................................................................................................. ii Introduction ............................................................................................................................................................................................... 1 Master Plan: A Closer Look ................................................................................................................................................................. 2 SWOT Analysis of Yamuna Expressway ........................................................................................................................................ 3 Connectivity: Existing and Upcoming ............................................................................................................................................ 3 Major Pull Factors ................................................................................................................................................................................... 5 Water Supply ........................................................................................................................................................................................ 5 Power Supply ....................................................................................................................................................................................... 6 Real Estate Snapshot.............................................................................................................................................................................. 7 Land Market Overview ......................................................................................................................................................................... 7 Price Trends for Plots ....................................................................................................................................................................... 7 Number of Units Launched for Projects with Plotted Units ............................................................................................ 8 Project Size of Plotted Development ......................................................................................................................................... 9 Analysis of Other Property Types ................................................................................................................................................. 10 What are Buyers Looking At In Yamuna Expressway?........................................................................................................ 14 Rental Market Snapshot .................................................................................................................................................................... 15 Available Typology ......................................................................................................................................................................... 15 Future Growth Aspects ...................................................................................................................................................................... 16 Recreation and Entertainment .................................................................................................................................................. 16 Manufacturing and Logistics ...................................................................................................................................................... 16 Affordable Housing ......................................................................................................................................................................... 16 IT/ITeS ................................................................................................................................................................................................. 16 Connectivity ....................................................................................................................................................................................... 16 Infrastructure .................................................................................................................................................................................... 16 Conclusion ............................................................................................................................................................................................... 17 References .................................................................................................................................................................................................17
List of Maps Map 1 YEIDA Master Plan 2031 with an overlay of residential projects ....................................................................... 1 Map 2 Proposed Connectivity around the Yamuna Expressway ....................................................................................... 4 Map 3 Map showing the availability of water sources ........................................................................................................... 5 Map 4 Map showing the probable power supply sources for YEIDA region ................................................................ 6
List of Figures Figure 1 Price trend for the plots and layouts (2010-2014) ............................................................................................... 7 Figure 2 Supply trend of plots and layouts (2010-2014) ...................................................................................................... 8 Figure 3 Unit Ranges for plots and layouts (2011-2014)...................................................................................................... 9 Figure 4 Typology Distribution of the projects along Yamuna Expressway (2011-2014) ................................. 10 Figure 5 BHK split of projects along Yamuna Expressway (2011-2014) .................................................................... 11 Figure 6 Distribution of projects according to their average per sq.ft. price (2011-2014) ................................ 13 Figure 7 Distribution of projects according to the size of the project (2011-2014) .............................................. 13 Figure 8 Rental Market Distribution based on property typology ................................................................................. 15 Figure 9 Rental Market distribution based on Unit configurations ............................................................................... 15
List of Tables Table 1 Top 5 ongoing projects in residential lands and layouts (2012-2015) ....................................................... 10 Table 2 Size and Capital Values based on unit configurations ......................................................................................... 11 Table 3 Top 5 ongoing projects in Apartment launches along the expressway (2012-2015)........................... 12 Table 4 Rental Profile at Yamuna Expressway according to unit configurations ................................................... 16
Introduction Opened in 2012, Yamuna Expressway has evolved as one of the most vibrant real estate destinations in the last two to three years. The entire project was ideated with the aim to reduce the travel time between Delhi and Agra, which has been successfully accomplished. However, a lot more awaits to change the fortunes of the area as the authority has envisaged an elaborate plan for its development. The 166 km long, six-lane expressway is India’s longest motorway, connecting New Delhi with Agra and, thus, opening up an untouched area for economic development and expansion of NCR (National Capital Region).
Map 1 YEIDA Master Plan 2031 with an overlay of residential projects [Source: Real Insights@CommonFloor.com]
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Before going further, let’s see which cities fall under the purview of the Yamuna Expressway. Covering about 2,40,000 hectares, it include six cities, namely Gautam Buddh Nagar, Bulandshahr, Aligarh, Maha Maya Nagar, Mathura and Agra.
Quick Facts Length: 166 km Number of Lanes: 6 (Extendable to 8) Main Toll Plazas: 3 Ramp Plazas: 8
Master Plan: A Closer Look To smoothen the work process, Yamuna Expressway Master Plan 2031 has been divided into three phases.
Phase I covers the 40 km stretch from Greater Noida to the proposed airport in the town of Jewar, Gautam Buddha Nagar District, Uttar Pradesh. Phase 2 covers a distance of 20 km starting from the proposed airport to an intermediate destination before Agra. Phase 3, the last one, goes beyond Agra and covers a distance of 105km.
As of now, only the first phase of the Yamuna Expressway Master Plan 2021 has got the green signal. Thus, the current focus is on developing Gautam Budh Nagar. Out of the total area sanctioned in Phase 1, about 22 per cent is earmarked for green cover, 20 per cent for industrial development, 19 per cent for residential development, 15 per cent for the transport links and remaining 24 per cent for commercial and institutional development.
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SWOT Analysis of Yamuna Expressway
Connectivity: Existing and Upcoming Yamuna Expressway is undoubtedly one of the most hi-tech highway in the country today. It boasts of ‘Intelligent Transport System’ installed with the objective of providing safe, secure and convenient travel between Agra and Greater Noida. It is well-connected at both ends. Starting from Noida-Greater Noida Expressway at one end, Yamuna Expressway is connected to the Agra Ring Road. Just about 10 km from its starting point from Noida-Greater Noida Expressway, Yamuna Expressway intersects with proposed Eastern Peripheral Expressway (as shown in map with purple dotted line). This will further join it with other NCR towns such as Gurgaon, Manesar, Rohtak & Sonipat in Haryana and Ghaziabad, Hapur & Meerut in Uttar Pradesh. Although, Yamuna Expressway will directly connect NCR with Agra, it will also connect few major cities, such as Kanpur, Gwalior and Lucknow, by shortening the distance and reducing the travel time. Moreover, there are several plans in the pipeline to upgrade the connectivity of the stretch. The map below highlights the same.
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Map 2 Proposed Connectivity around the Yamuna Expressway [Source: Real Insights@CommonFloor.com]
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Major Pull Factors From good connectivity to upcoming infra projects, Yamuna Expressway boasts of a plethora of factors that are driving growth. But two major factors that sets it apart from several other markets are adequate water and electricity supply.
Water Supply Yamuna Expressway falls in the Yamuna Basin, which possesses three important rivers - Yamuna, Hindon and Kali. Among these, Yamuna and Hindon rivers have huge untapped floods and a large network of canals (as shown in the Map 3). This caters as the main water source for domestic and industrial development proposed along the expressway. Thus, even in the times to come, the stretch will never have water shortage.
Map 3 Map showing the availability of water sources [Source: Yamuna Expressway Industrial Development Authority]
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Power Supply Yamuna Power Generation Company has been created to address the power supply and demand of the YEIDA region. There is a proposed 765 KVA Substation of 3000 MW capacity at Jahangirpur, YEIDA region. Add to this, there are long-term development infrastructure plans including the establishment of Independent Yamuna Power Corporation Limited, a 2,000 MW power plant.
Map 4 Map showing the probable power supply sources for YEIDA region [Source: Yamuna Expressway Industrial Development Authority]
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Real Estate Snapshot Realising the immense potential that the area holds, several realty majors have already flocked to Yamuna Expressway. Jaypee, Supertech, Cosmic Group, ATS, Gaursons, Orris, Ajnara, Logix are few developers whose projects are already under-construction. Considering the fact that Phase 1 of the master plan has got the requisite approvals, we have taken into consideration the projects towards YEIDA region. Interestingly, majority of real estate activity is also aligned towards this phase, particularly towards Gautam Buddh Nagar (GB Nagar).
QUICK FACTS Guidance Values in Yamuna Expressway for the Financial Year 2014-15 (in sq.mt)
[Source: Yamuna Expressway Industrial Development Authority Website]
Land Market Overview CommonFloor data suggests that from 2010, plots constitute more than 30 per cent share of launches every year till 2014. This can be attributed to the lack of social infrastructure facilities, which are requisite for day-to-day living. Also, the stretch holds immense potential for long term investment rather than short term.
Price Trends for Plots Price Trend in Yamuna Expressway Price per sq.ft.
3000 2500 2000 1500 1000 500 0 2010
2011
2012
2013
2014
Year
Figure 1 Price trend for the plots and layouts (2010-2014) [Source: Real Insights@CommonFloor.com]
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Data clearly indicates that in 2011, as construction work on Yamuna Expressway was nearing completion, prices witnessed a significant increase when compared to 2010.
With the expressway thrown open to the public and improved connectivity, property values witnessed a constant rise in 2012 and 2013. This rise can also be attributed to the attention that the stretch got due to the first F1 race to be ever hosted by India.
However, due to lack of social infrastructure, prices in 2014 stabilised.
Number of Units Launched for Projects with Plotted Units
Supply in Yamuna Expressway 6000
No. of Units
5000 4000 3000 2000 1000 0 2011
2012
2013
2014
Supply
Figure 2 Supply trend of plots and layouts (2010-2014) [Source: Real Insights@CommonFloor.com]
In 2011, about 2300 units (plots & layouts) entered the market in anticipation of the upcoming Yamuna Expressway.
The year 2012 saw maximum number of these launched due to the commencement of Yamuna Expressway. As compared to 2011, the number of units entering the market almost doubled, which continued till 2013.
Interestingly, in 2012 and 2013 most of projects were launched along the stretch after Buddh International Circuit.
In 2014, due to overall slowdown, developers mostly focused on completing their existing projects rather than launching new ones. Thus, less number of units were launched, which units mostly skewed towards Greater Noida.
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Project Size of Plotted Development Project Segmentation in Yamuna Expressway 100% 90% 80% 70% 60% 50% 40%
More than 1000 units
30%
500 - 1000 units
20%
300 - 500 units 100 300 units
10%
Less than 100 units 0% 2011 2012 2013 2014 Figure 3 Unit Ranges for plots and layouts (2011-2014) [Source: Real Insights@CommonFloor.com]
Touted as an affordable destination, Yamuna Expressway is currently dotted by projects with small number of units (plots & layouts). However, a closer look at data suggests that in 2011, due to availability of huge land parcels, about 60 per cent projects were large size having 500-1000 units. This was followed by projects with 100-300 units.
With Yamuna Expressway thrown open to public, stretch after Buddh International Circuit also came under the purview of development. Thus, with the availability of huge land parcels, in 2012, most of the projects launched had units more than 300-1000.
In 2013, new project launched were equally spread along the stretch from Greater Noida to Jewar. Thus, even the projects were launched with units in all the categories. As per data, projects with less than 300 units occupy 60 per cent of the market share.
In 2014, 55 per cent projects were launched with 100-300 units, followed by 30 per cent projects with 300-500 units.
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Table 1 Top 5 ongoing projects in residential lands and layouts (2012-2015)
Project Name
Developer Name
No. of Units
Approx. Ticket Price (in Rs)
PropZone Taj Green Residency
PropZone Realcon Pvt.Ltd
1900
38 lakh
Orris Greenbay Golf Village Plots
Orris Infrastructure Pvt Ltd
720
27 lakh
Supertech Golf Country Plots
Supertech Limited
636
29 lakh
Jaypee Yamuna Vihar Plots
Jaypee Group
500
60 lakh
Yamuna City 32nd Park View
Gaursons India Limited
488
26 lakh
[Source: Real Insights@CommonFloor.com]
Analysis of Other Property Types
19%
81%
apartments
layouts and plots
Figure 4 Type of projects along Yamuna Expressway (2011-2014) [Source: Real Insights@CommonFloor.com]
As per the data, apartments dominate the property spectrum of Yamuna Expressway with a whopping 81 per cent. This is followed by plots with 19 per cent.
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2% 8%
18%
1bhk 2bhk 3bhk
33%
4bhk 39%
5bhk
Figure 5 BHK configuration of projects along Yamuna Expressway (2011-2014) [Source: Real Insights@CommonFloor.com]

Like conventional market trend, 2BHK units rule the roost with 39 per cent availability, closely followed by 3BHK units with 33 per cent. This can be attributed to the fact that Yamuna Expressway as of now is predominantly an investor driven market.

Interestingly, 1BHK units comprises of about 18per cent of the market share, while larger BHK configuration such as 4,5 and 6 BHK units forms a minuscule part of the market share. This enable investors to enter the market at lower ticket price.
Table 2 Size and Capital Values based on unit configurations
BHK Configuration
Approx. Sizes (sq.ft.)
Approx. Ticket Price (Rs in lakh)
1BHK
370-830
13-35
2BHK
700-1,640
18-75
3BHK
1,200-4,600
25-80
4BHK
1,800-5,800
28-120 [Source: Real Insights@CommonFloor.com]
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Table 3 Top 5 ongoing projects in Apartment launches along the expressway (2012-2015)
Project Name
Gaur 16th Park View
Supertech Grand Circuit
Developer Name
No. of Units
Approx. Project Area (Ha)
Gaursons India Limited
4000
25
Supertech Limited
Nimbus The Golden Palm Village
Nimbus Group
Ajnara Panorama
Ajnara India Ltd
Le Solitairian City
Solitaire Realinfra Pvt Ltd
3496
2800
BHK
100
12.5
2750
2500
22
Approx. Sizes (sq.ft.)
Approx. Ticket Price Min
Max
2BHK
1000-1115
Rs 23 lakh
Rs 26 lakh
3BHK
1475-1475
Rs 34 lakh
Rs 34 lakh
1BHK
625-625
Rs 21 lakh
Rs 21 lakh
2BHK 3BHK
900-1155 1295-1295
Rs 30 lakh Rs 44 lakh
Rs 39 lakh Rs 44 lakh
2BHK
1020-1175
Rs 31 lakh
Rs 36 lakh
3BHK
1470-1470
Rs 44 lakh
Rs 44 lakh
2BHK
800-1250
Rs 25 lakh
Rs 39 lakh
3BHK
1300-1300
Rs 41 lakh
Rs 41 lakh
1BHK
615-655
Rs 20 lakh
Rs 21 lakh
2BHK
1000-1030 1370-2070 4000-4000
Rs 32 lakh Rs 44 lakh Rs 1.3 Cr
Rs 33 lakh Rs 66 lakh Rs 1.3 Cr
3BHK 4BHK
[Source: Real Insights@CommonFloor.com]
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Market Share %
Market Segmentation in Yamuna Expressway 45.00% 40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00%
Price Range in Rs per sq.ft.
Figure 6 Distribution of projects according to their average per sq.ft. price (2011-2014) [Source: Real Insights@CommonFloor.com]
About 38 per cent projects in Yamuna Expressway were launched in the price brackets of Rs 3,000-3,500 per sq.ft. This was followed 18 per cent projects in the price range of Rs 2,000-3,000 per sq.ft. and 3,5004,000 per sq.ft. each.
Project Segmentation in Yamuna Expressway 30.00%
Market Share %
25.00% 20.00% 15.00% 10.00% 5.00% 0.00%
No. of Units Figure 7 Distribution of projects according to the size of the project (2011-2014) [Source: Real Insights@CommonFloor.com]
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With availability of huge land parcels, large size projects dominate Yamuna Expressway market.
As per data, about 24 per cent projects launched had more than 1200 units and 500-800 units each. As the stretch lacks social infrastructure, developers tend to launch township projects and try to provide all the requisite amenities inside the projects itself.
Yamuna Expressway offers a good mix of projects in all sizes. While large size projects have a bigger share, smaller projects with units in the range of 100-300 constitute about 16 per cent of the market share. Quick Facts : FAR norms in Yamuna Expressway Plot Area (sq.mts)
Maximum Ground Coverage (%)
Maximum Floor Area Ratio
Maximum Height in mt
2000 - 40000
35
3
No Limit*
Above 40000
40
3
No Limit*
*Buildings above 30 Mt should get an approval from the Airport Authority [Source: Yamuna Expressway Industrial Development Authority Website]
What are Buyers Looking At In Yamuna Expressway? To give our readers a 360 degree view of a market, we have also analysed buyers’ preferences, i.e, the demand side of the market. Our research clearly indicates that in Yamuna Expressway, demand is in tandem with supply. Here is a snapshot.
In line with supply, about 79 per cent prospective buyers were looking for apartments in Yamuna Expressway.
However, this was followed by independent house and plots with 9 and 5 per cent respectively.
In line with supply, with 43 per cent maximum demand was skewed towards 3BHK units, closely followed by 2BHK units with 30 per cent.
For 3BHK units, buyers were looking for units in the price range of Rs 30-38 lakh, while for 2BHK units, the preferred range was Rs 20-30 lakh.
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Rental Market Snapshot Available Typology For rentals, Yamuna Expressway has maximum availability of apartments, followed by independent houses and studio apartment.
2% 9%
Apartment
11%
Builder Floor
2%
House Studio Apartment 76%
Villa
Figure 8 Market Segmentation based on available rental properties: Yamuna Expressway [Source: Real Insights@CommonFloor.com]
As per BHK configuration, 3BHK units are the showstopper, followed by 2 and 1BHK units. One can also find few 4BHK units for rent.
2% 9%
1 BHK 2 BHK 50%
39%
3 BHK 4 BHK
Figure 9 BHK Configuration based on available rental properties: Yamuna Expressway [Source: Real Insights@CommonFloor.com]
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Table 4 Rental Profile at Yamuna Expressway according to unit configurations
BHK Configuration
Approx. Unit Sizes (sq.ft.)
Expected Monthly Rent (Rs)
Approx. Ticket Size (Rs per sq.ft.)
1 BHK
520-830
4,500-30,000
26.3
2 BHK
600-1100
5,000-32,000
11.3
3 BHK
1000-2000
8,000-30,000
9.5
4 BHK
3120-3150
55,000-55,000
17.6
[Source: Real Insights@CommonFloor.com]
Future Growth Aspects Connectivity
Infrastructure
Noida authority has planned a Transport Hub, which will have a range of transportation modes. It will include an Inter State Bus Terminus and a Railway Station. Further, to solve parking issues, there will be a proper provision for vehicle parking.
Development around Gautam Buddha University on the Expressway with necessary social infrastructure is more likely to turn the area into a nice sustainable residential zone soon. Last but not the least, an International Airport is also planned to encourage tourism. The airport will have direct access to the Taj Expressway.
IT/ITeS Proposal of an Information Technology hub with an investment of about Rs 15 crore by YEIDA.
Manufacturing and Logistics
Affordable Housing
Proposed Delhi-Mumbai Industrial Corridor is expected to go through Dadri, which is to boost both the Logistics & Warehousing Hubs and Special Development Zones along the expressway.
Proposed housing units under Samajwadi Awas Scheme and MIG Scheme with an expected investment of Rs 500 crore by YEIDA.
About 12 major Japanese, Chinese and Korean companies have shown interest in setting up their manufacturing plants along the expressway.
Recreation and Entertainment
Night Safari Upcoming project of amusement park on the lines of Disney World. Sports amenities such as multi-purpose stadium, cricket stadium, tennis court complex, among several others. India’s first exposition mart for Cottage and Handicraft industry 16
Conclusion Yamuna Expressway’s growth can be attributed to robust inter and intra city connectivity. Moreover, the peaceful backdrop of the region, with abundant water bodies and green spaces, has also worked in its favour. This has cajoled several developers to utilise the stretch for industrial, residential, and commercial projects. Additionally, with Centre’s ‘Make in India’ initiative doing the rounds, Yamuna Expressway could soon transform into a manufacturing hub for electronic products. As the stretch is meant to be developed as a manufacturing and logistic hub, the demand for housing will multiply in the times to come. Further, it is expected that by 2021, Yamuna Expressway will be connected by metro to the inner parts of NCR, thus making it accessible for middle-income class group.
References YEIDA Master Plan 2031. (2015, April 14). Retrieved from Yamuna Expressway Industrial Development Authority: http://yamunaexpresswayauthority.com 7,400 Cr infra plans for GB Nagar. (2015, March 4). Retrieved from The Times of India: http://timesofindia.indiatimes.com/city/noida/7400cr-infra-plans-for-GBNagar/articleshow/46449939.cms Yamuna Expressway. (2015, April 14). Retrieved from Yamuna Expressway: http://yamunaexpressway.in/index.html Yamuna Expressway to turn into electronics manufacturing hub. (2015, March 2). Retrieved from INDIA TV: http://www.indiatvnews.com/news/india/yamuna-expressway-to-turn-into-electronicsmanufacturing-hub-48121.html Yamuna Expressway: Futuristic Realty Hub. (2015). Retrieved from NDTV Profit: http://profit.ndtv.com/delhiproperty/story/1?pfrom=home-propertydelhi_hpsmarttips
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CommonFloor.com, Bangalore maxHeap Technologies Pvt Ltd Tower-B, Fourth Floor, Diamond District Kodihalli Bangalore – 560008 ------------------------------------------------------------------------------------------------------------------- -------------------
Authors Yadunandan Batchu
Nikunj Joshi
Meha Singla
Head Domain Research (Real Estate) Sr. Research Associate Research Associate yadunandan.batchu@commonfloor.com nikunj.joshi@commonfloor.com meha.s@commonfloor.com Bangalore Bangalore Bangalore ----------------------------------------------------------------------------------------------------------------------------- ---------
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